Micron climbs 6% after boosting sales guidance by more than expected
GAAP earnings per share:Micron raised the lower end of its revenue guidance by $600 million. Micron's previous revenue guidance for the third quarter was a range of $4.6 billion to $5.2 billion.Billionaire investor Mario Gabelli's flagship fund has delivered a 3,082% return since its inception. He told us his 13 favorite stocks right now — and the trends he's betting on for a post-coronavirus world.
The announcement from Micron helped boost other chipmakers' shares on Wednesday, with the PHLX Semiconductor Index turning positive for the day after Micron's news. The iShares PHLX SOX Semiconductor ETF was up a half percent Wednesday afternoon, after being down as much as 2.5% Wednesday morning. Prior to the guidance announcement, Micron traded down as much as 4% to $43.90 in Wednesday morning trading. The semiconductor company filed the 8-K in connection to remarks made by CEO Sanjay Mehrotra at the 2020 Bernstein Strategic Decisions Conference.Robinhood says it's fixed an issue that showed incorrect portfolio values for users »
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